Columbia Banking System (COLB) in Tacoma, Wash., reported higher quarterly earnings buoyed by last year's purchase of West Coast Bancorp in Lake Oswego, Ore.

The $7.2 billion-asset company's fourth-quarter earnings rose 48% from a year earlier, to $20 million. Earnings per share of 38 cents were 3 cents higher than the average estimate of analysts polled by Bloomberg.

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